Peter Thiel’s fund owned more shares than DeepMind’s cofounders when the AI lab was sold to …

PayPal cofounder and Silicon Valley investor Peter Thiel.Reuters Peter Thiel’s investment company owned more shares in artificial intelligence (AI) lab DeepMind than all three of the startup’s cofounders when it was acquired by Google for around $600 million (£463 million). Analysis of an annual return document on UK company register Companies House showed that Thiel’s “Founders Fund” owned 4,490,487 of DeepMind’s 16,406,358 overall shares at the time of the Google acquisition in January 2014. That equates to more than 25% of DeepMind’s shares. DeepMind cofounder and CEO Demis Hassabis owned 3,435,605 shares, while DeepMind cofounders Mustafa Suleyman and Shane Legg owned 867,672 and 736,406 respectively. Assuming DeepMind was acquired by Google for the reported $600 million (£463 million) sum, Thiel’s fund would have gotten around $164 million (£127 million) from its shares. It’s worth noting that DeepMind’s founders may have had other options in the company beyond shares. DeepMind is one of the UK’s most successful startups in recent years and the company has made headlines for achieving a number of AI breakthroughs in recent years including mastering the Chinese board game Go. Its mission is to “solve intelligence and use that to solve everything else.” Speaking at Google Campus…


Link to Full Article: Peter Thiel’s fund owned more shares than DeepMind’s cofounders when the AI lab was sold to …

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